This is post 1 of a 10 post series on the top 10 reasons you should consider outsourcing your coding.
ICD-10 is coming! Are you ready? The October 1, 2015 deadline is approaching quickly
and to add to the mayhem the nation currently has about a 30% deficit of ICD-9 medical coders. But what about ICD-10 coders? Currently, medical coders using ICD-9 spend an average of 12-15 minutes per chart with a turnaround period of about 69 days. Once the implementation of ICD-10 occurs it is estimated that coders will spend an average of 33 minutes per chart with a turnaround period of about 139 days. Time lost means revenue lost. Without extensive preparation, the ICD-10 implementation will ensue losses for providers and physicians nationwide, not to mention the sky-rocketing of denied claims.